GENERAL COMMENTS:
It was another lackadaisical day for the livestock complex as traders had no real other viable option but to let the contracts drift lower as fundamental support remains sparse. No cash cattle trade developed throughout the day. December corn is down 2 cents per bushel and December soybean meal is up $1.30. The Dow Jones Industrial Average is down 48.62 points and the NASDAQ is down 511.51 points.
LIVE CATTLE:
Another day came and went and still traders haven't seen the support they desire to see surface yet in the fed cash cattle market. More than anything traders are merely holding the live cattle contracts steady, trying to wait and see if feedlot managers are going to be able to hold this week's market steady. Asking prices are noted at $230 in Texas, but otherwise the market has been extremely quiet with no other developments having been made just yet. October live cattle closed $0.72 lower at $223.90, December live cattle closed $1.25 lower at $225.12 and February live cattle closed $1.15 lower at $227.42.
Wednesday's slaughter is estimated at 110,000 head -- 1,000 head less than a week ago and 10,000 head less than a year ago.
Boxed beef prices closed higher: choice up $1.35 ($376.50) and select up $4.80 ($358.47) with a movement of 107 loads (60.28 loads of choice, 13.15 loads of select, 7.68 loads of trim and 25.48 loads of ground beef).
THURSDAY'S CATTLE CALL: Steady. It's going to be interesting to see where prices land this week because on one hand you could argue that prices could trade higher as packers have been more aggressive in recent weeks and do slightly seem short bought. But on the other hand because they have been aggressive they sit on more inventory than they did just a week ago which could alleviate some of their need to give aggressively into the market.
FEEDER CATTLE:
And as to be expected, the feeder cattle contracts ended the day lower without seeing support arise from either the fed cash cattle market or the live cattle contracts. October feeders closed $2.12 lower at $340.95, November feeders closed $2.57 lower at $338.45 and January feeders closed $2.25 lower at $333.60. At Beaver Livestock Auction in Beaver, Oklahoma compared to last week feeder steers over 700 pounds sold steady to $2.00 higher, steers weighing 600 to 700 pounds sold $20.00 to $25.00 higher. Steer calves traded $2.00 to $4.00 stronger and feeder heifers and heifer calves sold steady to $5.00 stronger. Feeder cattle supply over 600 pounds was 71%. The CME feeder cattle index 10/13/2026: down $0.05, $341.42.
LEAN HOGS:
The lean hog complex again closed lower as traders aren't pleased nor are comfortable with the level of support in which they've seen recently in from consumers in regard to pork demand. And until some fundamental support arises, this lower/weaker trend will likely continue. December lean hogs closed $1.95 lower at $66.07, February lean hogs closed $1.75 lower at $67.85 and April lean hogs closed $1.10 lower at $73.05. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $1.12 with a weighted average price of $69.14 on 3,711 head. Pork cutouts totaled 280.22 load with 243.38 loads of pork cuts and 36.84 loads of trim. Pork cutout values: down $1.23, $79.45. Wednesday's slaughter is estimated at 497,000 head -- 2,000 head more than a week ago and 4,000 head more than a year ago. The CME lean hog index 10/12/2026: down $0.57, $75.94.
THURSDAY'S HOG CALL: Lower. Packers already bought aggressively one day this week and likely secured the vast majority of their needs for the week.
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